Man check out all these Oil/Gas companies getting wrecked. Example $SNDE where they have contracts for 7k bbl/day for $54.08 the remainder of the year and it dropped from $15-20 range to $1. $11mil in hedged contracts every month off that. They also received $210mil loan base increase for 2020 as well. Looking somewhat ok to weather the storm somewhat. Eyeballing an entry for this small position. EDIT: wanted to add from their PR that for 2020 they have a total of about $132m in hedged oil sales remaining and 2021 they have a hedged total of about $146m. There are lots of producers like this that have crude contracts hedged for 2020 yet the stocks have taken a total beating like they are going bankrupt.
Typing this from a mobile device so bare with me as I can’t grab links and such to paste into here, but in short, the implied open for the front month /ES has already reached +5%, hence the lock limit up. So while it shows the /ES is up +3.85% at the limit up, there is actually about over a +1% difference that got carried over after the cash market closed, and from the 5pm futures close to the 6pm reopen. I know that was maybe poorly explained. If I can get on my desktop later I’ll explain better. Or if @Three Eyes sees this he can do it too since pretty sure he knows what I’m trying to say
Haha! Talk about a blast from the past! WOW! What up @Venom08! Real nice surprise seeing you in here. Hey, I never got the chance to credit you on your DOW 30K call from years back. Yes, I realize we didn’t actually “print” the number, but fuck, we got pretty doggone close to it. Just missed it by a few hundo points. That was an epic call! Love to hear your thoughts on the current state of the market and your outlook going forward. Missed that bigly. Big time welcome back mang!
I think I follow you @bigbear0083 . The S&P 500 (aka, the /ES) of course does not trade between after-hours and pre-market sessions, but as @bigbear0083 stated, after 6:00PM, the futures contracts for the S&P (and DOW-30 and Naz-100) resume trading. And when they hit an implied (next day) opening that triggers the upper end of the S&P based on the close of the S&P during regular session hours, the overnight futures contracts are frozen in place at that upper end. Naturally, given that the markets are closed, that upper end of the futures contract often diverges significantly from the last after-hours S&P 500 session trade, and so you have these differences between the S&P last price in after-hours trading and the limit reached by the futures after 6:00 PM. Today, that difference is 1.15%. And no, investors cannot arbitrage the difference. All of this is actually easier to understand than it is to say, ha ha!
Thanks! I'm in grad school now but I've been making a killing trading gold and I also called the top back in January and converted my SEP IRA funds into cash. I'm really thinking this is a panic crash and not a bear market, so I expect the lows to be set at 18800-19200 by the first week of April and then we slingshot back up to ATHs by the summer. I'm also short the Euro and super bullish the US$, there's a massive REPO crisis and the central banks are screwed! Exciting times ahead for sure.
Hi all. Im very close to people in hotel and rental car biz. One owns a branch of a franchise, the other is general manager of multiple hotels. Both speak of massive layoffs. One happened today. Well...one, already Happened, the other business requested voluntary retirement, with package. Last time they did that was indeed 09ish. Just before they did a mass layoff. I am in central US btw. I agree its a correction much needed. I think the cause of crash will pass more quickly than the ripples with unemployment. Primarily from travel and services/hospitality? Thoughts? Maybe not a stock market today thought....but thoughts? i struggle navigating these forums a bit. Always on mobile
Is Ichi still around here, still trading futures? I bet that with last weeks moves he is now or retired or broken !
tesla close to breaking below 400.....if tesla gets down in the 360s....im backing up the truck...lol
I picked up 100 shares of SPXL and will be selling weekly calls against this for a while. Got 100 @ 22.00 this morning and immediately sold the $25 3/20 strike Call - time to cash in on these premiums.
